UNIFi revamps fee structure

Secured and unsecured loan broker network UNIFi Partners, is moving from a flat administration fee to a tiered structure for unsecured business, with fees starting at £20.

It has also reduced its agency fee for all completed secured loans, starting at £249 per case.

It now has no volume requirements for brokers submitting cases to UNIFi, which applies to those using their UNIFi agency or placing business via UNIFi Solutions.

UNIFi is also offering to package the case, meaning brokers need only submit a completed application form.

It will also give members access to bridging loans, debt management, IVAs, commercial mortgages, mortgages abroad and data rental, plus regular bulletins detailing changes to the market and lender terms together with the implications for brokers.

Patrick Bamford, managing director of UNIFi, says: “These new enhancements provide a range of benefits for those already using UNIFi and anyone looking for new market opportunities.

“In a market which is increasingly focused on reduced fees, we are pleased to announce that this only forms a small part of the package we have rolled out today.

“Our unsecured loan proposition is particularly relevant and attractive, especially if we consider the changes and upheaval which currently exists in the secured market. The uncertainty regarding products in this sector means there has never been a better opportunity for brokers to offer their clients an unsecured loan.

“Customers may well be looking to satisfy a short-term need between now and when the market recovers, and brokers are in strong position to meet this need. We at UNIFi are able to support brokers in this sector and the fact we have seen a significant increase in our completed unsecured business, allows us to change to a tiered fee structure.

“UNIFi exists to smooth the process for all brokers who use our proposition and we have no intention of placing volume requirements on those who use our services. We are also keen to help brokers avoid the pitfalls of packaging themselves, instead they need only submit a completed application form – we will do the rest.

“Coupled with competitive commissions, a comprehensive lender panel for both secured and unsecured business, plus alternative income opportunities and regular news updates, we believe the UNIFi proposition offers plenty for today’s broker.”

Members of the National Association of Commercial Finance Brokers have seen a drop of almost 20% in commercial business from June 2007 to June 2008, due mainly to a poor performance in the commercial finance sector.

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